Pressure Sensor Market Overview:

Global Pressure Sensor Market is expected to reach $10,446 million by 2022, growing at a CAGR of 6.5% from 2016 to 2022. Pressure sensor detects, measures, and transmits the information which helps in analyzing the performance of a device. It uses IC fabrication technology made on silicon wafers; monitors and controls the pressure of gases and liquids; and measures different types of pressures such as absolute, vacuum, gauge, and differential pressure.

Increase in demand for pressure sensors for various applications has fostered the pressure sensor market growth, and is estimated to increase during the forecast period. Pressure sensors have a wide range of applications in automotive and consumer electronics.

Pressure sensors also witness a high demand from the automotive industry, wherein they are used for a wide range of applications such as Tire Pressure Monitoring System (TPMS), Engine Gas Recirculation (EGR), and others. Application of pressure sensors in autonomous cars would present several growth opportunities to players operating the pressure sensor market.

Application of pressure sensor in automotive industry

Demand for pressure sensors has increased subsequently over the years, and is estimated to increase during the forecast period. This will benefit automotive manufactures to boost their market growth and increase their market share. Pressure sensors are the key components in reducing emissions and fuel consumption, so as to decrease the air pollution. In addition, they are deployed for various safety concerns of passengers, such as Tire Pressure Monitoring Systems (TPMS), Advanced Driver Assistance Systems (ADAS), and Manifold Absolute Pressure Sensors (MAP). It also helps in deployment of air bags, throttle position, weight, and sensing of passengers. In addition, the global market is dominated by the automotive applications segment, which hold more than half of the total share.

In addition, increase in demand of pressure sensors in medical applications would further supplement the growth of pressure sensor market during the forecast period.

Competitive Landscape

The report defines the top strategies adopted by key leading players to acquire major shares of the pressure sensor market. The key market players adopt novel strategies to improve manufacturing techniques, and widen their product portfolio to gain a competitive edge over the other market players.

Comprehensive analysis of the current and future trends in the global pressure sensor market are provided.

The report provides a competitive scenario of the market and elucidates on the growth trends, drivers, scope, opportunities, and challenges.

The report includes a comprehensive analysis of the key segments to provide insights on the market dynamics.

Porter’s Five Forces analysis highlights the potential of buyers and suppliers as well as provides insights on the competitive structure of the market to devise effective growth strategies and facilitate better decision-making.

Value chain analysis provides key inputs on the role of stakeholders involved at various stages.

3.1.1 Low bargaining power of suppliers due to large number of suppliers and low switching cost
3.1.2 Moderate bargaining power of buyers due to high demand of pressure sensors, and availability of substitutes
3.1.3 Low threat of substitution
3.1.4 Low threat of new entrants due to presence of dominant players
3.1.5 High competitive rivalry due to presence of numerous players and low switching cost

3.4 Market share analysis, 2015
3.6 Drivers

3.6.1 Increasing use of pressure sensors in automotive industry
3.6.2 Advancements in MEMS & NEMS technologies for various applications
3.6.3 Increasing demand of pressure sensors in consumer electronics
3.6.4 Favorable legislations for use of pressure sensors

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Pressure sensors market is anticipated to showcase potential growth over the coming 4 – 5 years, driven by the growing adoption of these sensors by different end use verticals such as automotive, consumer electronics, and healthcare among others.

Increase in demand of smart programs such as trip optimizers used in trucks, which utilize various sensors (including position sensors), is expected to increase, especially in the U.S. and Europe during the forecast period. Technologies such as prognostics are projected to help the consumers to monitor real-time data through online connectivity. However, high development cost restrains the market growth.

Increase in demand of different types of sensors, especially in autonomous cars, is expected to drive the market during the forecast period. Advanced technologies and innovations such as Advanced Driver Assistance Systems (ADAS) and Emission Control Sensors are projected to open new opportunities for the pressure sensors market in the automotive industry.

Asia-Pacific and North America are expected to provide lucrative growth opportunities to the market players owing to the high projected growth of the pressure sensor market in these regions. Prominent players such as Emerson Electric, ABB Group, Robert Bosch GmbH, Analog Devices, and Denso Corporation are largely engaged in the process of product innovation, collaboration, and acquisition to further expand their services across various geographies.

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